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Key Energy Services in new ME venture
March 9, 2010
Key Energy Services, a leading provider of onshore well service rigs in the world, has joined hands with Abu Dhabi-based AlMansoori Specialized Engineering, to set up its new venture in the Middle East.
The new JV, AlMansoori-Key Energy Services, will be headquartered in Abu Dhabi and provide well intervention services in the Mena region, the company said in a statement.
Texas-based Key and AlMansoori Specialized Engineering will each initially contribute capital as projects are identified and secured. The results of the venture will be consolidated by Key, said a top official.
Dick Alario, Key's chairman, president, and CEO, commented, "For several years, we have sought to establish an effective presence in the burgeoning Middle East market and, thus, we are excited to form this partnership with AlMansoori."
Original Posting At: TradeArabia
The new JV, AlMansoori-Key Energy Services, will be headquartered in Abu Dhabi and provide well intervention services in the Mena region, the company said in a statement.
Texas-based Key and AlMansoori Specialized Engineering will each initially contribute capital as projects are identified and secured. The results of the venture will be consolidated by Key, said a top official.
Dick Alario, Key's chairman, president, and CEO, commented, "For several years, we have sought to establish an effective presence in the burgeoning Middle East market and, thus, we are excited to form this partnership with AlMansoori."
Original Posting At: TradeArabia
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